The Building of the Philippine Digital Economy
Will the Philippines go full-blown digital cashless? Well let us see
We Filipinos have already some sense of awareness when it comes to the COVID tyranny and the fact that we have schizophrenic government that has little to no clue about health.
Aside from COVID and health tyranny, another aspect to the globalist plot that gets overlooked is the plot to a cashless society with the implementation of it digitally through Central Bank Digital Currency (CBDCs) and it has started to steamroll the globe the last few years such as the likes of UK, the EU, and even some parts of Africa. Which would have high implications in one’s privacy and anonymity.
Philippine Trend on Digital Payments/Transactions
The Philippines is not surprising not immune to the CBDC-esque trend as the Bangko Sentral ng Pilipinas (BSP) a.k.a The Philippine Central Bank has been making moves to “engineer” society to the digital cashless/transaction path slowly and make it become a reality.
For instance, the BSP recently has launched the QR Ph program which is a program by the BSP and the Department of of the Interior and Local Government (DILG) which aims to maximize the use of digital payments—payments using digital devices via a national QR code. The short video down below also helps in explaining it. The utilization of the QR Ph program extends to even public wet markets for Filipinos to utilize.
Normal day-to-day Filipinos are actually getting accustomed to using digital payment. Mom N’ Pop Shops or karinderyas are starting to apply GCash and digital payment in general. Take this person below who paid the karinderya his money but digitally since he forgot his wallet. Convenience is tasty.
Below are examples of normal market vendors utilizing the digital BSP’s QR-Ph program
Recently, our favorite Quezon City globohomo mayor Joy Belmonte even promoted all of this shenanigans by promoting it around Quezon City to regular people on top of all the 15-minute city crap she already is trying to promote
Overall the digital transaction of the Philippines has increased. In one of BSP’s studies in regards to the Nexus Between Payments Digitalization and Cash Usage, digital transactions increased especially during the COVID Lockdowns…
“In the Philippines, the increase from 25.1 percent to 43.5 percent in digital transactions from 2017-2021 was buoyed by regulatory reforms that were established by the BSP under the National Retail Payment System (NRPS) Framework to enable Filipino consumers, businesses, and the government to smoothly transition to payments digitalization. The value and volume of PESONet (Figures 7a and 7b) and InstaPay transactions (Figures 8a and 8b) spiked during the pandemic and decelerated thereafter.
The growth in digitalization of retail payments also saw concomitant rise in emoney accounts.”
And on top of all of this, Governor of the BSP Eli M Remolona, addressed these programs as part of the BSP’s project of financial inclusion or banking the unbanked as he stated the following:
“We can look forward to diverse, rich, and multi-faceted discussions on how we can more effectively uplift the lives of the marginalized and the excluded- through financial inclusion.
Gains in financial inclusion are being made, in varying degrees, from country to country. But there are also setbacks that we must reckon with. Climate change is one.
In the Philippines, for instance, stronger and more frequent storms destroy agricultural crops and other livelihoods. These result in income losses that drive the underprivileged deeper into poverty. Our sustainability agenda, therefore, is one that will be inherently inclusive.”
Basically all these projects are globalist/globohomo derived such as the likes of the United Nation’s Sustainable Planning.
Take & Outlook on Things Ahead
While the social trend of the Philippines is going towards digital transactions and finance, it looks like the trajectory of going full-blown digital is still a long road ahead.
For one, the Philippines is till one of the top 10 nations that are cash-dependent
Approximately 66% of Filipinos continued to operate without bank accounts, solidifying the Philippines’ position within the top 10 nations heavily reliant on cash, according to merchantmachine.co.uk.
According to a study conducted by merchantmachine.co.uk, the Philippines secured the 7th spot among countries predominantly utilizing cash for their transactions.
5th, 7th in ranking, does not matter, what is important to remember is that we Filipinos in general still use cash heavily.
Even when it comes to the use of e-money accounts such as GCash, Filipinos still utilize cash and would use digital technology and e-money accounts as a complement for transaction as the BSP stated:
Without corresponding bank accounts for cash-in transactions, however, holders of e-money accounts would still require cash to enable digital transactions. Even with bank accounts, income constraints and transaction fee may also hinder end-to-end retail digital transactions. Thus, there is no one-to-one mapping between higher digital payment transactions and reduction in cash usage. It can be reasonably inferred that while there may be some substitution, it is far from complete. In contrast, there may still be high degree of complementarity rather than outright substitution.
On top of this. the Philippines overall are average to below average when it comes to internet access (I’m looking at you strongly especially PLDT). According to Speedtest.net, the Philippines was ranked 86th & 49th in mobile and fixed broadband internet speeds. The fact that we have issues internet wise, a developing country with slightly above average technological innovation, and being archipelagic does not really help the case of the Philippines going full-blown digital-CBDC/cashless society even if all the globalist/globohomo agents here in this country try very hard to do so.
***But what do I know, maybe the globohomo agents have a secret weapon up their sleeve and they have a Thanos infinity gauntlet that will snap us to full blown digital slavery.
But regardless, we must still keep an eye on globohomo public officials and the Central Bank as they are steadily still trying to implement the digital control grid especially financially and usuall arey forcing and subverting these kinds of things in society can have it’s consequences and side effects.